Indian Grand Prix organisers on Wednesday dismissed media speculation that they may not host a Formula One race next year as "totally baseless and malicious".

"Our agreement with Formula One Management is to hold F1 races at Buddh International Circuit (BIC) till 2015, and we are fully committed to do that," Askari Zaidi, spokesman for Jaypee Sports International, said in a statement.

"There is no reason for us to give up hosting F1 races," he added, reacting to reports on some international websites that suggested the race could be dropped after this year.

Zaidi said the circuit, at Greater Noida to the south of New Delhi, wanted to host more international events including motorcycling.

This year's Indian Grand Prix on Oct. 27 will be the 16th race of the 19 round championship.

The 2014 calendar has yet to be issued but new races in Russia and New Jersey are due to make their debuts, taking it to a potential 21 rounds if none are dropped.